Asset Management One Co. Ltd. Purchases 29,958 Shares of Truist Financial Corporation (NYSE:TFC)

Asset Management One Co. Ltd. lifted its stake in Truist Financial Corporation (NYSE:TFC - Free Report) by 5.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 547,172 shares of the insurance provider's stock after buying an additional 29,958 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Truist Financial were worth $22,516,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. FWG Holdings LLC grew its position in shares of Truist Financial by 4.3% during the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock worth $267,000 after purchasing an additional 234 shares in the last quarter. Nwam LLC grew its position in shares of Truist Financial by 3.2% during the fourth quarter. Nwam LLC now owns 8,395 shares of the insurance provider's stock worth $364,000 after purchasing an additional 263 shares in the last quarter. TIAA Trust National Association grew its holdings in Truist Financial by 1.2% during the 4th quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider's stock valued at $1,033,000 after buying an additional 283 shares in the last quarter. TCTC Holdings LLC grew its holdings in Truist Financial by 28.1% during the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock valued at $57,000 after buying an additional 287 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its holdings in Truist Financial by 1.0% during the 4th quarter. Meeder Advisory Services Inc. now owns 28,385 shares of the insurance provider's stock valued at $1,231,000 after buying an additional 288 shares in the last quarter. Institutional investors own 71.28% of the company's stock.

Truist Financial Trading Up 0.2%

Shares of TFC stock traded up $0.09 on Friday, reaching $42.63. 8,255,678 shares of the company's stock were exchanged, compared to its average volume of 8,271,105. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $55.83 billion, a PE ratio of 12.58, a P/E/G ratio of 1.58 and a beta of 0.84. The company's fifty day simple moving average is $39.54 and its 200 day simple moving average is $42.01.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.87. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the company earned $0.90 EPS. As a group, analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio is currently 61.36%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TFC shares. TD Cowen started coverage on Truist Financial in a report on Thursday, May 15th. They set a "hold" rating and a $44.00 price target for the company. Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Keefe, Bruyette & Woods cut their price target on Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Finally, Barclays cut their price target on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Truist Financial currently has a consensus rating of "Moderate Buy" and an average price target of $48.44.

Truist Financial Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.